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  • Spot ETF Makes Bitcoin Entry Easier; Borroe Finance Presale Approaches $2M Mark

    Spot ETF Makes Bitcoin Entry Easier; Borroe Finance Presale Approaches $2M Mark

    In the world of cryptocurrency, the winds of change are blowing, and they’re bringing in some exciting developments. The much-anticipated spot Bitcoin ETF is on the horizon, simplifying Bitcoin investments for the everyday investor. Meanwhile, BorroeFinance ($ROE), a rising star in the crypto universe, is edging closer to a monumental $2 million in its presale. Let’s unpack these stories and see why they are reshaping the landscape as the best crypto investment.

    >>BUY $ROE TOKENS NOW<<

    The Game-Changing Spot Bitcoin ETF

    The buzz around the first spot Bitcoin exchange-traded fund (ETF) in the U.S. market is real and for good reason. This investment product is not just a boon for Bitcoin; it’s a potential game-changer for the entire crypto industry. The beauty of a spot Bitcoin ETF lies in its simplicity and accessibility. It dismantles the barriers that have kept many potential investors at bay.

    You don’t need to be a tech whiz to dive into the Bitcoin pool anymore. Forget about the hassle of dealing with cryptocurrency exchanges or the headache of setting up and securing a blockchain wallet. And let’s not even get started on the labyrinth that is crypto taxes. The spot Bitcoin ETF is about to make all these issues a thing of the past.

    But that’s not all. This ETF comes with the backing and blessing of the big guns – government regulators like the SEC and heavyweight investors on Wall Street. This level of endorsement is set to strip away much of the skepticism surrounding the crypto industry. Each of these ETFs will be under the microscope – audited, monitored, and transparent. In short, it’s a safer and more reliable avenue into Bitcoin, without the fear of some crypto catastrophe wiping out your investment.

    BorroeFinance: The New Crypto Darling

    On another front, BorroeFinance ($ROE) is making waves as it inches closer to the $2 million mark in its presale. This is not just another run-of-the-mill crypto launch; Borroe Finance is carving out its niche in the DeFi and NFT spaces with an innovative blend of AI and blockchain technology. It’s more than just a digital currency; it’s a forward-thinking project that’s redefining financial solutions for the digital age.

    This approach has not gone unnoticed. The crypto community is buzzing, and the presale numbers are proof of the growing interest. BorroeFinance isn’t just a top crypto to buy; it’s a glimpse into the future of decentralized finance. For those scouring the market for a top altcoin to buy, Borroe Finance is a name that demands attention.

    >>BUY $ROE TOKENS NOW<<

    Why Borroe Finance Stands Out

    In a sea of altcoins, what makes Borroe Finance stand out? It’s not just the technology; it’s the practical, scalable solutions it offers. The project’s ability to attract significant interest, especially in its presale phase, underscores its potential as a top crypto coin. The innovative approach to monetizing future earnings through NFTs and its AI-driven platform make it more than just another digital currency. It represents a forward-thinking investment in the rapidly evolving world of crypto.

    As Borroe Finance approaches stage 4 of its presale, now is the perfect time for investors to consider jumping on board. With over $1.8 million already raised and nearing the $2 million mark, the excitement is palpable. This presale is not just about raising funds; it’s about being part of a revolutionary project in the DeFi and NFT spaces. For investors looking for a promising venture, Borroe Finance presents a compelling opportunity.

    Conclusion: A Time of Opportunities

    In conclusion, the crypto market is buzzing with opportunities. The upcoming spot Bitcoin ETF is set to simplify Bitcoin investments, making it more accessible to a broader audience. At the same time, Borroe Finance’s innovative approach and successful presale are redefining what it means to be a top altcoin. 

    Learn more about BorroeFinance ($ROE) here:

    Visit BorroeFinance Presale | Join The Telegram Group | Follow BorroeFinance on Twitter

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  • Grayscale files to convert its Ethereum Trust into a spot Ethereum ETF

    Grayscale files to convert its Ethereum Trust into a spot Ethereum ETF

    • Grayscale is seeking for SEC’s approval to convert its Ethereum Trust to an Ethereum ETF.
    • Grayscale’s Ethereum Trust manages nearly $5 billion in Ethereum assets.
    • Transition to spot ETF offers direct and regulated cryptocurrency exposure.

    Grayscale Investments, a global leader in digital asset investment, is making headlines again as it seeks approval from the US Securities and Exchange Commission (SEC) to convert its Grayscale Ethereum Trust (ETHE) into a spot Ethereum exchange-traded fund (ETF).

    The move, which is in partnership with NYSE Arca, marks a significant step toward bringing cryptocurrencies further into the mainstream financial landscape.

    Grayscale’s Ethereum Trust

    Grayscale’s Ethereum Trust (ETHE) currently stands as the world’s largest Ethereum investment product, boasting a substantial $5 billion in assets under management. The trust gives investors exposure to Ethereum, one of the leading cryptocurrencies, by holding Ethereum on their behalf.

    However, the proposed conversion into a spot ETF would change the game.

    The rising appetite for crypto ETFs

    A spot ETF represents a more direct approach to cryptocurrency investment compared to trusts that rely on futures contracts.

    In a spot ETF, investors own the underlying asset itself, in this case, Ethereum, rather than futures contracts. This approach offers increased transparency and security for investors, making it an attractive option for those seeking to participate in the crypto market with regulatory oversight.

    Grayscale’s forays into crypto Investment

    Michael Sonnenshein, the CEO of Grayscale Investments, expressed the company’s commitment to providing traditional investment products with cryptocurrency exposure.

    Grayscale Investments is no stranger to the SEC, having recently won a legal battle that may shape the future of cryptocurrency ETFs. The ruling provided essential guidelines for how regulators should handle forthcoming crypto ETF applications, setting the stage for further developments in the cryptocurrency industry.

    As the cryptocurrency market continues to evolve, Grayscale’s application for an Ethereum spot ETF represents another milestone in the integration of cryptocurrencies into mainstream finance. If approved, it would join the Purpose Bitcoin ETF, which gained approval earlier this year, in offering a regulated and direct path for investors to access digital assets.

    The development could attract more institutional capital and enhance market liquidity, paving the way for a new era in cryptocurrency investment.

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  • Asset manager Franklin Templeton applies to launch a spot Bitcoin ETF

    Asset manager Franklin Templeton applies to launch a spot Bitcoin ETF

    • Franklin Templeton joins other asset management firms like Grayscale that have applied to offer crypto ETFs.
    • The SEC was mandated by the court to evaluate Grayscale’s application to convert its Bitcoin futures ETF into a spot ETF.
    • Franklin Templeton will collaborate with CF Benchmarks to ensure accurate valuation.

    Franklin Templeton, a prominent asset management firm with $1.5 trillion in assets under management, has submitted an application to the United States Securities and Exchange Commission (SEC) seeking approval for the launch of a Bitcoin exchange-traded fund (ETF) that would track the price of Bitcoin in real-time.

    This move by Franklin Templeton follows a series of notable developments in the cryptocurrency ETF space. In late August, the SEC opted to delay its decisions regarding spot ETF applications from several other companies, including WisdomTree, Valkyrie, Fidelity, VanEck, Bitwise, and Invesco. Furthermore, a significant court ruling on August 29th mandated that the SEC must evaluate Grayscale’s application to convert its Bitcoin futures ETF into a spot ETF.

    Franklin Templeton’s ETF application

    In their application, Franklin Templeton outlines the structure of the proposed fund. It would function as a trust, with Coinbase serving as the custodian for Bitcoin holdings. Bank of New York Mellon would take on the roles of cash custodian and administrator. Fund shares are intended to be traded on the Cboe BZX Exchange, a major securities exchange in the United States. The SEC has set its next deadline for making a decision on this application for October 16th.

    In recognition of the regulatory uncertainties surrounding the digital asset market in the United States, Franklin Templeton explicitly acknowledges the risks in its application. They highlight the potential adverse impacts of legislative or regulatory developments, which could significantly affect the value of Bitcoin and the shares of the proposed ETF. Such impacts could include bans, restrictions, or imposing stringent conditions on various aspects of the cryptocurrency ecosystem, including trading, mining, digital wallets, custody services, and the overall operation of the Bitcoin network.

    CF Benchmarks and Franklin Templeton partnership

    To ensure accurate valuations, Franklin Templeton plans to collaborate with CF Benchmarks, a digital asset index provider regulated in the United Kingdom. CF Benchmarks would provide daily valuations based on data from reputable cryptocurrency exchanges, including Coinbase, Bitstamp, iBit, Kraken, Gemini, and LMAX Digital. These valuations would be updated at 5-minute intervals to reflect the real-time nature of the cryptocurrency market.

    At the time of writing, the price of Bitcoin was trading at $25,952.26, underlining the dynamic and ever-changing nature of the digital asset market that Franklin Templeton seeks to tap into with its proposed Bitcoin ETF.

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  • United States SEC officially accepts Valkyrie Spot Bitcoin ETF application

    United States SEC officially accepts Valkyrie Spot Bitcoin ETF application

    • The US SEC has been receiving Bitcoin ETF resubmissions after it rejected previous applications for inadequacy.
    • Valkyrie Bitcoin Fund was the last company to submit a Bitcoin ETF application to the SEC.
    • The SEC has accepted several other BTC ETFs after the respective companies amended and resubmitted.

    The US Securities and Exchange Commission (SEC) has officially accepted the Valkyrie Spot Bitcoin ETF application, marking a momentous step towards embracing BTC ETFs.

    Besides marking a turning point for the entire crypto industry, SEC’s move suggests a potential turning point for widespread crypto adoption in the biggest economy in the world. If approved, the Valkyrie Spot Bitcoin ETF will be the first of its kind, providing investors with exposure to Bitcoin without requiring them to hold any physical cryptocurrency.

    Crypto industry preparing for Bitcoin ETFs

    The SEC accepted Valkyrie’s amended BTC ETF application after rejecting previous Bitcoin ETF applications noting that they were inadequate. The public has 21 days to comment after the Federal Register notice is published after which the public input will be reviewed.

    Eric Balchunas, a senior ETF analyst at Bloomberg, immediately took to Twitter to spread the word after the US SEC approved Valkyrie’s application to register a spot Bitcoin ETF. Valkyrie was the very last company to apply for approval of spot Bitcoin ETFs in the flurry of companies that did. He added that the “BRRR” ticker was chosen by the Valkyrie Bitcoin ETF for its Nasdaq debut.

    Other Bitcoin ETF applications that have been accepted by the SEC include applications made by Fidelity Investments, WisdomTree, VanEck, Invesco, and ARK 21Shares. This clearly shows that the SEC is considering the applications.

    Approving the Bitcoin ETFs would be a major victory for the cryptocurrency industry in addition to the recent Ripple Labs win against the SEC.

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  • Anthony Pompliano expects SEC to approve a Spot Bitcoin ETF

    Anthony Pompliano expects SEC to approve a Spot Bitcoin ETF

    anthony pompliano sec approve spot bitcoin etf
    • Pompliano says underlying fundamentals of Bitcoin are strengthening.
    • He expects a Spot Bitcoin ETF to be a meaningful catalyst for BTC.
    • Bitcoin is currently up a whopping 85% versus the start of the year.

    Anthony Pompliano agrees that Bitcoin could see friction in the near term but remains bullish on the digital asset for the long term.

    Pompliano shares his view on Bitcoin

    The Founder of Pomp Investments is constructive because the underlying fundamentals related to the world’s largest cryptocurrency by market cap are improving.

    Bitcoin is anti-fragile. We see hash rate hitting all-time highs. We see adoption hitting all-time highs. People are realizing its value and they’re putting all sorts of capital into the network.

    The total supply of Bitcoin is slated to halve in April of 2024 which has historically served as a catalyst for its price.

    At writing, BTC is already up about 85% versus the start of the year.

    Is a Spot Bitcoin ETF coming soon?

    Pompliano is also convinced that the U.S. SEC will eventually approve a Spot Bitcoin ETF which will likely be another tailwind for the cryptocurrency.

    His comments follow a recent wave of applications for such an exchange-traded fund that the regulator has already dubbed inadequate. Still, Pompliano said today on CNBC’s “Squawk Box”:

    It’s a small detail that is more of a formality. We’re watching Wall Street saying we want access to BTC. So, when it [spot bitcoin ETF] happens, a lot of people will pour capital into it.

    He’s confident in particular because among notable names that have recently filed for a Spot Bitcoin ETF is BlackRock that has a history of going for an exchange-traded fund only when it’s convinced it will get approval.

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